president & cfo - UB Group

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Annexure to the Auditors' Report (Contd.)8. The Central Government of India has not prescribedthe maintenance of cost records under clause (d) ofsub-section (1) of Section 209 of the Act for any of theproducts of the Company.9. (a) According to the information and explanationsgiven to us and the records of the Companyexamined by us, in our opinion, the Company isgenerally regular in depositing the undisputedstatutory dues including provident fund, investoreducation and protection fund, employees’ stateinsurance, income-tax, wealth tax, service tax,customs duty, excise duty and cess, and othermaterial statutory dues, as may be applicable,with the appropriate authorities except dues withrespect to sales-tax. The extent of the arrears ofstatutory dues outstanding as at March 31, 2009for a period of more than 6 months from the datethey became payable in respect of sales – tax is asfollows :Name ofthestatuteMaharashtraValue AddedTax, 2002NatureofduesSalesTaxAmount(Rs. inMillion)Period towhich theamountrelates12.938 2005-06DuedateApril 1,2006Date ofPaymentNotyetpaid(b) According to the information and explanationsgiven to us and the records of the Companyexamined by us, the particulars of dues of incometax,sales-tax, wealth tax, service tax, customs duty,excise duty and cess as at March 31, 2009, whichhave not been deposited on account of a dispute,are given in Appendix-1.10. The Company has neither accumulated losses as atMarch 31, 2009 nor has it incurred any cash loss eitherduring the financial year ended on that date or in theimmediately preceding financial year.11. According to the records of the Company examinedby us and the information and explanations given tous, the Company has not defaulted in repayment ofdues to any financial institution or bank or debentureholders as at the balance sheet date.12. In our opinion, the Company has maintained adequatedocuments and records in the cases where theCompany has granted loans and advances on the basisof security by way of pledge of shares, debentures andother securities.13. The provisions of any special statute applicable to chitfund/ nidhi/ mutual benefit fund/ societies are notapplicable to the Company.14. In our opinion, the Company is not a dealer ortrader in shares, securities, debentures and otherinvestments.15. In our opinion and according to the information andexplanations given to us, the terms and conditions ofthe guarantees given by the Company, for loans takenby others from banks or financial institutions duringthe year, are not prejudicial to the interest of theCompany.16. In our opinion, and according to the information andexplanations given to us, on an overall basis, the termloans have been applied for the purposes for whichthey were obtained.17. On the basis of an overall examination of the balancesheet of the company, in our opinion and accordingto the information and explanations given to us, thereare no funds raised on a short-term basis which havebeen used for long-term investment.18. The Company has not made any preferential allotmentof shares to parties and companies covered in theregister maintained under Section 301 of the Actduring the year.19. The Company has not issued any debenture during theyear..20. The Company has not raised any money by public issuesduring the year.21. 21. During the course of our examination of the booksand records of the Company, carried out in accordancewith the generally accepted auditing practices in India,and according to the information and explanationsgiven to us, we have neither come across any instanceof fraud on or by the Company, noticed or reportedduring the year, nor have we been informed of suchcase by the management.Place : BangaloreDate : July 29, 2009J. MajumdarPartnerMembership Number – F 51912For and on behalf ofPrice WaterhouseChartered Accountants24
Annexure to the Auditors' Report[Referred to in paragraph 9(b) of the Annexure to the Auditors’ report of even date to the members of United SpiritsLimited on the financial statements for the year ended March 31, 2009].Name of the StatuteAmount*(Rs. Million)Forum where disputeis pendingThe Income-Tax Act, 1961 126.203 Commissioner of Income-Tax AppealsThe Wealth-Tax Act, 1957 -Central and Respective StateSales Tax ActsRespective State Excise Acts3.620 Assessing Officer 2003-04Year To Which The Amount Relates1993-94, 1994-95, 1999-00, 2000-01,2001-02, 2002-03 to 2005-06140.476 Income Tax Appelate Tribunal 2003-04, 2004-05, 2005-06Commissioner of Income Tax -Appeals199.471 Supreme Court 1996-0656.825 High Court88.749 Appellate Tribunal15.756 Joint Commissioner1992-93, 1994-95,1996-971982-83,1984-86,1992-93,1995-96,1996-97,1997-98,1997-00,1999-00, 2002-03, 2003-04,2006-071986-90,1985-86,1986-87,1987-88, 1988-89,1989-96,1990-91,1991-92, 1991-93, 1994-95,1995-96,1996-97, 1997-98, 1997-01,1998-99,1999-00, 2000-011984-85,1985-86,1987-88,1991-92, 1992-93,2000-01, 2006-07, 2007-088.848 Deputy Commissioner 1984-85,1992-93, 2002-030.291 Commissioner of Sales Tax 1999-00, 2000-011.995 Assistant Commissioner 1974-76, 1995-96,1996-97, 2002-03, 2008-097.183 Assessing Officer 1993-94,1995-96, 1997-98, 2003-04, 2004-050.892 Appellate and Revisional board 1993-94, 2004-05, 2005-06115.431 Additional Commissioner 2002-03, 2004-05, 2005-064.785 Supreme Court265.885 High Court17.464 Appellate Tribunal 1995-96193.185 Excise CommissionerThe Central Excise Act, 1944 6.000 Supreme Court* Net of amounts paid under protest or otherwise1971-72,1972-73,1973-74,1977-78, 1978-79,1979-80, 1980-81, 1981- 82, 1981-091963-64,1972-74,1983-84,1984-85, 1985-86,1986-87, 1988-91, 1990-91, 1991-92,1992-93,1993-94,1995-00, 1996-97,1997-98, 1998-99,1998-01, 1999-00, 2000-01,2001-09,2002-03,2003-04.1974-81,1980-81,1981-82,1982-83, 1983-84,1983-85,1984-85,1984-85, 1985-86, 1986-87,1985-87,1987-88, 1987-89, 1988-89,1989-90,1991-92, 1991-96, 1995-96,1993-94,1995-98,1993-96,1998-99,1999-00, 2001-02, 2002- 03,2004-05, 2005-06.1.593 Excise Superintendent 1986-87,1992-93,1992-99,1997-98, 2001-021.701 District Magistrate and Collector 1994-9512.170 Chinsurah Court, Hooghly 1981-848.311 Additional District Magistrate 1993-940.081 Collector 1994-9525.635 High Court 1989-97,1996-97, 2004-052.363 Commissioner of Central excise 1995-96, 2003-04- Assistant Commissioner 1995-9625
Page 2 and 3: CONTENTSDr. Vijay MallyaChairmanRep
Page 5 and 6: Report of the DirectorsYour Directo
Page 8 and 9: Report of the Directors (Contd.)The
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Page 12 and 13: Report of the Directors (Contd.)SL.
Page 14 and 15: Corporate Governance Report1. COMPA
Page 16 and 17: Corporate Governance Report (Contd.
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BALANCE SHEET ABSTRACTBALANCE SHEET
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Consolidated Financial StatementBal
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Consolidated Financial StatementCas
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Consolidated Financial StatementSch
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president & cfo - UB Group

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